Yes I too am a believer - I've been in here since 4.11.14, during that time have taken some profit but currently 157+% up; some like this I keep for a longish time, others short in all about 30 odd shares. Excellent new story this morning.
Regards Lorinnae

I'm interested in this, but trying to get my head round what all the fuss is about.
What I mean is -- there are many thousands of VET practices in the UK and many schemes already in place for annual subscriptions on drugs/treatments and consultations. In my town there many reputable VET practices (about 8) and non are owned by CVS.

Given all this is in place, surely CVS's growth comes at a price, by having to pay a premium every time it bolts on a new practice. Ignoring the crematorium and Animed which yields small returns, my fear is that this is rather pumped up.

The P/E back in 2011 was just 8, today it's 25 --- rather a hefty rerating no?

To get this growth, the cash drain applied to investing (buying and paying for finance on these new practices) has grown from £6M in 2011 to £27M in 2015. At the same time the operating cash flow was £14M in 2011 and £18M in 2015.
In other words the exapnsion means that they have gone from a position of cash flow covered over twice in 2011 to being uncovered in 2015.
During the same period, operating margins have shrunk from 6.26% to 5.8% -- neither figure is high.

Looks like high risk to me, but others might have another explanation.
I'll keep reading up on this.

Its the linking with crematoria as well as the vet centres and lab services giving wider national coverage (now in Scotland too) that appears to be working well. New refinancing on better terms also.
My concerns are around the potential for rising premises rental costs over time and also skilled staff retention. Perhaps getting a bit overvalued now but theres definitely momentum in the SP and pets arent going out of fashion. Our neighbours cat had chemotherapy the other week - cant be cheap.
SG

Rising turnover and profits, more practices bought and another animal crematorium added. As far as I can see all major metrics are on a sustained positive trajectory.
Their new Lumbry Park site is a ''state of the art, major, multi-disciplinary referral centre in Alton, Hampshire. It provides a full range of specialisms, using the most modern equipment including both a CT ("Computerised Tomography") and an MRI ("Magnetic Resonance Imaging") scanner.''
Sounds more like an NHS hospital than something for pets!
All the detail with pictures of their customers here - http://www.cvsukltd.co.uk/wp-content/uploads/2015/07/Investor-presentation-30-June-2015-Final1.pdf
Its unclear what a realistic share price should be here and the momentum could well drive the SP upwards until there are some results 'below expectations'. Im holding for the longer term.
SG

CVSG looks rather dear until you take into account that EPS growth here is at a cracking rate. If investors bought while P/E was 50 plus why shouldnt they Buy whilst P/E is at forecasts of half of that. People spend a lot of money on there Pets.

Improving turnover and rising EBITDA with more vet practices acquired. I like the way they link animal care with training up their own staff, internal specialist cross-referral and utilisation of their own labs together with some drug/nutrition products. When it all ends they have 3 animal crematoria as well. Several of their directors are directly or indirectly linked to the (human) funeral business and so this should also be lucrative avenue to build on.
There seem to be ever increasing numbers of dogs whenever I go walking in any public open space and people spend a lot on their pets (perhaps paying more attention to 'Fido' than their own health). CVS reckon that they currently employ 5% of Vets and have 11% share of the small animal market. They may well be able to buy up individual practices selectively to give good geographical spread.
On the risk side Im a little unclear about the rental costs of their practices and how this is projected to increase year on year. Compare say PHP where their health centre rentals rise 5% PA on a 25 year contract.
Fund managers can reprofile their holdings at the end of the tax year so CVS may be a beneficiary of this.
Good luck all holders
SG

I can see the stock being worth that in a year with further earnings growth, but for hitting 4.10 today, I think this one might be near a short-term peak on a long-term trajectory of steady growth as profits continue to improve with constant ROCE.

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